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Company Fact Sheet

As of March 2010

Company

We are a Fort Worth, Texas-based independent oil and gas company engaged in the development and production of natural gas, natural gas liquids (NGLs) and crude oil, which we attain through a combination of exploratory and development drilling, exploitation and property acquisitions. Our efforts are principally focused on unconventional reservoirs found in fractured shales, coal seams and tight sands. We have U.S. offices in Fort Worth, Texas; Cut Bank, Montana; and Glen Rose, Texas. We also have a Canadian subsidiary, Quicksilver Resources Canada Inc., located in Calgary, Alberta. Quicksilver Resources Inc. common shares are traded on the New York Stock Exchange under the ticker symbol "KWK".

Facts

  • NYSE: KWK - Public company since 1999 and its predecessor has operated as a private company since 1963.

  • Our proved reserves at year-end 2009 were 2.4 trillion cubic feet equivalents (Tcfe) with 68% classified as proved developed. For the year 2009, our production replacement rate was 377%. This ratio is calculated by dividing proved reserve extensions, discoveries, revisions and purchases of approximately 446.8 billion cubic feet equivalents (Bcfe) by production for the 12-month period of approximately 118.5 Bcfe.

  • As of year-end 2009, our reserve mix was 99% natural gas and natural gas liquids and 1% oil, with a reserve life index of approximately 20 years.

  • Our average daily production for the year 2009 was approximately 325 million cubic feet of natural gas equivalents per day (MMcfe/d) compared to 263 MMcfe/d for 2008.

  • As of December 2009, we had approximately 600 employees in North America.
Core Areas

We focus on development of unconventional gas reservoirs. Our primary growth area is the Barnett Shale formation in the Fort Worth Basin, located in north Texas. Proved reserves in this play have grown from 2 Bcfe at year-end 2003 to 2.1 Tcfe as of year-end 2009. We had approximately 162,000 net acres in our core development area of this play as of the end of 2009, and reported average production of approximately 251 MMcfe/d during the fourth quarter of 2009. In the Fort Worth Basin, we expect to have four rigs operating during 2010 and expect to drill approximately 100 gross wells and complete approximately 130 wells during the year.

The majority of our production from the Fort Worth Basin is gathered and processed by Quicksilver Gas Services LP (NYSE - KGS), a limited partnership in which we own approximately 61% of the partnership interests, including 100% of the general partner.

Another growth area is in Alberta, Canada where we have a land position of approximately 342,000 net acres. Reserves in Canada have grown from 17 Bcfe of proved reserves in 2001 to 253 Bcfe in 2009. Production from Horseshoe Canyon coals has grown from 8 MMcfe/d at year-end 2003 to approximately 60 MMcfe/d during the fourth quarter of 2009.

Our exploratory plays include the Horn River Basin in northeast British Columbia as well as emerging plays in the Greater Green River Basin of northern Colorado and southern Wyoming, and the southern Alberta Bakken Basin in northwest Montana. In the Horn River Basin, we have acquired more than 130,000 net acres and have drilled four of 10 planned exploratory wells to validate all of our acreage. The company regularly invests 10%-15% of it annual capital program on exploratory activities.

 

HEADQUARTERS COMPANY CONTACT
777 West Rosedale Street
Fort Worth, TX 76104
Phone: (817) 665-5000
Fax: (817) 665-5004
Email: quicksilver@qrinc.com
Web site: www.qrinc.com
Rick Buterbaugh
Vice President - Investor Relations & Corp. Planning




   
CANADIAN SUBSIDIARY  
QUICKSILVER RESOURCES CANADA INC  
One Palliser Square
2000, 125-9th Ave. S.E.
Calgary, Alberta T2G OP8
Phone: (403) 537-2455
Fax: (403) 262-6115